looks like one to watch, nice positive divergence there. 

also note the trusty MACD KISS / Stock OS setup that had occurred, you could have sent long some  at 62.13 of the small doji. 

otherwise thx for the idea I'll be watching this next week. The daily chart has a doji. That said the 60 min divergence is rather small and really none on the 2 hr. That wedge you show may not be complete and need a couple waves to complete it - which is fine


My trading plan is to close a SPY put I opened today on Monday or Tuesday when the squeeze on /ES is exhausted, and let the market bounce into Wednesday, and to rebuy that SPY put into your target for wave 5. 

On a second thought, wave 4 may still be in  progress and today's drop is a minor b down to be followed by c up into FOMC. I see a low-compression squeeze firing on 2-hour charts, and we lost EMA(21) on the daily /ES March23. 3888 (1 ATR) is the next target for me. Your target is near 2 ATR. Once the squeeze is completed, it will be obvious whether wave 4 completed or not.

Happy birthday, Steve! I wish you many more years ahead!

Amcap, I place credence in your depiction. /CL is very close to a tradable long-term buy on daily charts. There is divergence on RSI(5) on 240-minute charts. One more push lower to make another low or an equal low should complete the pattern.

Larry Williams has a low on /CL in December and a move up from there.

Amcap, your charts are insightful. The analysis I trust has wave (A) up completed at 4100 on /ESZ22. We are now in wave (B) down, and wave A down is in progress. Wave 4 of A has probably completed today, and wave 5 is in progress. Your target with triangle C is my target for wave 5 of A. I expect a push lower after the FOMC meeting next week to reach that target during the week of the Christmas day.

Taking your lead but will wait till Monday. I had a bad feeling about spy today. As soon as you said EW had you out I went out. 

Entry Monday if prices lower would be good.   Second entries do really well and thirds outstanding. If we enter halfway between a 2nd and 3rd entry, seems like a high probability trade.  

Thanks Matt for updates, Steve all the best. MMMM enjoy the birthday cake

Cheers Steve, enjoy! 

Systems follow up 2nd entries Straps

Posted by matt on 9th of Dec 2022 at 04:06 pm

funny - the Strap longs that I took off mid day. 30 points higher are taking a 2nd entry. SPY already has, ES shows one for the 5 pm close

I said earlier that I would issue trade alerts when these take 2nd entries, but I hate issuing another one now - I generally want to avoid day trades. 

A couple options would be: 1. just wait until Monday, maybe we'll get better prices, or 2, issue a reentry but only for one of them - maybe ES since  it has a short

Just wanted to say thanks

Posted by steve on 9th of Dec 2022 at 04:05 pm

Just wanted to say thanks again for the Bday wishes - have a great weekend

Sorry Matt i'm still confused.  Is there a bear long entry still open ?

3,933.92 gap filled

The gaps don't lie like Shakira says, haha

VXX ,   $vix up this

Posted by dragonfly28 on 9th of Dec 2022 at 03:54 pm

VXX ,   $vix up this afternoon -  

those are updated, nice exit earlier. now would love to see a move lower on Monday as well - if those Strap systems take a 2nd entry, or one of my even higher stat versions take an entry I'll send that out 

ERY ripping again 

Posted by steve on 9th of Dec 2022 at 03:51 pm

ERY ripping again 

nope, not gonna happen


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